SmartMetric, Inc. President & CEO Chaya Hendrick has announced that the company’s ‘market disruptive’, ‘consumer based’ biometric solution provided by its fingerprint activated payments card is able to provide a ubiquitous and desperately needed security tool in the massive war against identity theft and fraud.
Having a user biometric identifying and verifying credential with the SmartMetric proprietary fingerprint reading payments card is able to provide a level of fraud protection unparalleled by any existing payment system in the world today.
A study by Javelin Strategy and Research found 12.6 million victims of identity fraud in the United States in 2012. It also reported identity fraud incidents increased by more than one million victims over the previous year and fraudsters stole nearly USD 21 billion in the United States in 2012 alone.
In 2012, online retail payments reached USD 318 billion. The online market is an increasing target for fraudsters that use data breaches as their prime tool in stealing consumer’s identity and carrying out online fraud.
Using a person’s fingerprint to activate the “EMV”, ATM or Credit Card rather than relying on passwords, social security numbers, PIN’s etc. will protect both financial institutions and card holders against much of both online and offline fraud.
The SmartMetric Biometric payments card can be used for safeguarding online transactions with a simple computer adaptor or at millions of ATM and retail card reading machines around the world.
SmartMetric has developed a fingerprint reader that sits inside a person’s ATM or Credit Card.
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